I am retired and have never posted here. I am still learning a lot from the well informed guys here. Like a lot of others, I am well under water with my investment in IMSC.
The fiscal report last September spent considerable time listing their huge debt and the possibility, more than once, of going under if they cannot meet certain deadlines. For some reason I saw a similar situation I had some time ago when a mining company I had a very large position in was unable to meet its financial debt obligations and was only "saved" by the lenders who took the company private and paid off us stockholders at the going stock price, which by then was pennies. A disaster.
Below is the paragraph from that IMSC report that caught my attention and reminded of my previous situation. Is there any possibility we can be taken private by DMRJ and/or BAM with us stockholders left hanging?
I do not like the way the stock seems to be walked down little by little as the March deadlines approach.
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If we are unable to repay these amounts as required, refinance our obligations to DMRJ and/or the other institutional investors, or negotiate extensions of
these obligations, DMRJ and/or BAM may seize our assets and we may be forced to file for protection under bankruptcy laws and to curtail or discontinue operations entirely.
